FENY vs. METL

Last updated Jun 9, 2026

FENY (Fidelity MSCI Energy Index ETF) and METL (Sprott Active Metals & Miners ETF) are both exchange-traded funds - FENY is a Energy Equities fund tracking the MSCI USA IMI Energy 25/50 Index, while METL is a Commodity Producers Equities fund actively managed by Sprott. FENY is passively managed, while METL is actively managed. At a 0.03 correlation, their price movements are largely independent. FENY charges 0.08%/yr vs 0.89%/yr for METL.

Performance

FENY vs. METL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Energy Index ETF (FENY) and Sprott Active Metals & Miners ETF (METL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FENY achieves a 31.30% return, which is significantly higher than METL's 7.51% return.

FENY

• 1D: 1.22%
• 1M: 3.82%
• YTD: 31.30%
• 6M: 29.90%
• 1Y: 44.41%
• 3Y*: 16.98%
• 5Y*: 20.27%
• 10Y*: 9.32%

METL

• 1D: 0.05%
• 1M: -9.97%
• YTD: 7.51%
• 6M: 15.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FENY vs. METL - Yearly Performance Comparison

	2026 (YTD)	2025
FENY Fidelity MSCI Energy Index ETF	31.30%	2.01%
METL Sprott Active Metals & Miners ETF	7.51%	27.04%

Correlation

The correlation between FENY and METL is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 11, 2025	0.03

Return for Risk

FENY vs. METL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FENY

FENY Risk / Return Rank: 71
FENY Sharpe Ratio Rank: 75
FENY Sortino Ratio Rank: 68
FENY Omega Ratio Rank: 65
FENY Calmar Ratio Rank: 80
FENY Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FENY vs. METL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Energy Index ETF (FENY) and Sprott Active Metals & Miners ETF (METL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FENY	METL	Difference
Sharpe ratio: Return per unit of total volatility	2.19	—	—
Sortino ratio: Return per unit of downside risk	2.81	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	3.79	—	—
Martin ratio: Return relative to average drawdown	10.95	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FENY	METL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	1.18	-0.98

Drawdowns

FENY vs. METL - Drawdown Comparison

The maximum FENY drawdown since its inception was -74.35%, which is greater than METL's maximum drawdown of -27.39%. Use the drawdown chart below to compare losses from any high point for FENY and METL.

Drawdown Indicators

	FENY	METL	Difference
Max Drawdown Largest peak-to-trough decline	-74.35%	-27.39%	-46.96%
Max Drawdown (1Y) Largest decline over 1 year	-11.78%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-21.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.64%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.07%	—	—
Current Drawdown Current decline from peak	-7.04%	-18.48%	+11.44%
Average Drawdown Average peak-to-trough decline	-23.11%	-8.24%	-14.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.07%	—	—

Volatility

Volatility by Period

	FENY	METL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.35%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.38%	44.85%	-24.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.48%	44.85%	-18.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.80%	44.85%	-15.05%

FENY vs. METL - Expense Ratio Comparison

FENY has a 0.08% expense ratio, which is lower than METL's 0.89% expense ratio.

Dividends

FENY vs. METL - Dividend Comparison

FENY's dividend yield for the trailing twelve months is around 2.43%, more than METL's 0.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FENY Fidelity MSCI Energy Index ETF	2.43%	3.18%	3.05%	3.33%	3.33%	3.69%	4.60%	6.43%	3.21%	2.94%	2.29%	3.05%
METL Sprott Active Metals & Miners ETF	0.92%	0.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FENY and METL in my portfolio?

FENY and METL have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FENY or METL?

On fees, FENY is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FENY or METL?

FENY is cheaper with a 0.08% expense ratio, compared with 0.89% for METL.

Which ETF pays a higher dividend yield, FENY or METL?

FENY has the higher dividend yield at 2.43%, compared with 0.92% for METL.

What is the main difference between FENY and METL?

FENY is categorized as Energy Equities, while METL is Commodity Producers Equities. They also come from different issuers: Fidelity and Sprott. Their fees differ too: 0.08% for FENY and 0.89% for METL.